 "Indiabulls Financial raises Rs 500 cr through NCDs")
Mumbai: Indiabulls Financial Services Ltd (IBFSL) has raised Rs 500 crore through issuance of secured non-convertible debentures (NCDs).
The placement, one of the first of its kind in the NBFC sector, has a tenure of 10 years at a coupon of 10.15 percent monthly.
[caption id=“attachment_80206” align=“alignleft” width=“380” caption=“The company has over 3,00,000 satisfied customers & cumulative disbursements of loan amount over Rs 50,000 crore. Reuters”]
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“The funds raised through this will be used mainly for long term retail mortgages,” IBFSL Chief Executive Officer Gagan Banga said in a statement here.
Indiabulls Financial Services, one of India’s leading non-banking financial companies (NBFCs) is leading provider of lending and other financial products including home loans, loans against property, commercial vehicle loans, and commercial credit to prime corporates.
The company has over 3,00,000 satisfied customers & cumulative disbursements of loan amount over Rs 50,000 crore.
PTI